Which One of the Following Is Not a Required Disclosure

question 57

Multiple Choice

Which one of the following is not a required disclosure for a change in reporting entity?

• A) the nature of the change and the reason for the change
• B) the effect of the change on income from continuing operations
• C) the effect of the change on operating expenses
• D) the effect of the change on other comprehensive income

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Definitions:

Economic System

The structure and methods by which a society decides on the allocation of resources and distribution of goods and services.

Goodwill

The intangible asset that arises as a result of the reputation, brand, or customer relations of a business, adding value beyond its tangible assets.

Intangible Capital

Assets that are not physical in nature, such as intellectual property, brand recognition, and human capital, which can contribute to a company's value.

Inventory

The total amount of goods and materials held in stock by a business, including raw materials, work-in-progress, and finished goods.